Assistant Manager – Finance

Kenya Orient Insurance Limited is an insurance company founded in 1982 and based in Nairobi, Kenya. It provides various insurance services.

The Assistant Manager – Finance delivers accurate, timely financial information, management and Board reporting, and branch performance insight to support effective decision-making, planning and control, and provides day-to day leadership to the finance team.

1. Monitor the company’s daily cash position, creditor accounts, payments and surplus funds to ensure optimal liquidity and a positive cash flow at all times.
2. Prepare and review daily cash flow reports that give management timely visibility of the liquidity position to support informed financial decision-making.
3. Manage cash inflows and outflows, revenue assurance, recoveries and reserves to sustain financial stability.
4. Review treasury transactions journals, interest computations, accruals, deposits and investment transactions ensuring accurate recording and reconciliation.
5. Support the development of asset–liability strategies and the investment portfolio, including deposit placements, bond investments, trade confirmations and settlements.
6. Review and authorise petty cash and imprest, reconcile staff imprest accounts, and ensure supplier payments are settled by their due dates.
7. Ensure accurate and timely preparation of financial statements, management accounts and Board papers in compliance with IFRS, internal policies and regulatory requirements.
8. Own the end-to-end bank reconciliation process, ensuring no open items age beyond 30 days, and drive the timely resolution of un-receipted credits with the credit, underwriting and branch teams.
9. Conduct periodic review and analysis of the trial balance and general ledger accounts, and pass all required periodic journals, accruals and prepayments.
10. Act as a key liaison with statutory and regulatory authorities, ensuring accurate preparation and filing of returns including IRA returns, withholding taxes and levies within stipulated timelines.
11. Review quarterly reinsurance accounts with the reinsurance department, advise on claims above deductible, and participate in the annual treaty renewal process.
12. Consolidate group financial statements and prepare branch and business performance reports.
13. Develop and maintain effective financial management systems, policies, procedures and internal controls that safeguard company resources and mitigate financial risk.
14. Monitor capital adequacy ratio (CAR), performance ratios and other key financial indicators, reporting positions and recommendations to management.
15. Lead the annual external audit process to conclusion, coordinate internal audit and regulatory inspections, and ensure effective closure of all recommendations.
16. Ensure timely, accurate recording of financial transactions and full compliance with accounting standards, best practice and government regulations.
17. Maintain accurate banking documentation bank account records, mandates, signatories and operational contacts keeping them current at all times.
18. Continuously review and improve workflows and business processes to strengthen accuracy, efficiency and control effectiveness.
19. Facilitate the preparation and monitoring of annual budgets, forecasts and financial plans, tracking performance against approved budgets and flagging areas needing corrective action.
20. Monitor all income, expenditure and financial transactions against approved budgets and financial management guidelines, providing timely control feedback to management.
21. Maintain the highest level of confidentiality on sensitive information, and on Board and management decisions and developments.
22. Ensure product profitability analysis is conducted quarterly and shared with the commercial team with clear recommendations.
23. Ensure claims above the company’s deductible are captured in the income statement, and review reserves regularly for fair and reasonable accuracy.
24. Ensure corporate tax is optimised and advise the business on exposures prone to tax penalties.
25. Provide management with timely financial analysis, insight and recommendations to support strategic planning, investment decisions and overall business performance.
26. Lead, supervise, coach and develop the finance team to strengthen technical competence, performance and delivery of departmental and company objectives.
27. Champion talent, career development and performance management within the function, sharing expertise and creating development opportunities for the team.
28. Maintain strong working relationships with internal stakeholders, banking partners, service providers and business line contacts, ensuring prompt resolution of financial and payment-related queries.

1. A Bachelor’s degree in Commerce, Finance, Accounting or an equivalent qualification from a recognised university.
2. CPA (K) or an equivalent professional qualification, and registered membership of a recognised accounting professional body.
3. Minimum of seven (7) years’ relevant finance experience, with at least three (3) years at Supervisory Role.
4. Strong working knowledge of IFRS, insurance industry regulation and IRA reporting requirements.
5. Demonstrable experience in treasury and cash management, financial reporting, taxation and audit coordination.
6. Hands-on experience with an insurance/ERP accounting system and advanced Microsoft Excel skills.